Credit Card Rate Cap Proposal Sends Capital One Shares Down 6%, Banks Slide

The Credit Card industry came under sharp pressure after a fresh policy proposal reignited fears of tighter regulation. US financial stocks slipped as President Donald Trump called for a cap on credit card interest rates, triggering a strong sell-off in major lenders. Capital One shares fell nearly 6 percent, while other banks also moved lower, reflecting investor worry about profit margins, consumer lending models, and long-term earnings growth.